Participating financial institutions Sample Clauses

Participating financial institutions. Upon entering into the participation agree- ment with the participating State, the financial institution shall become a participating xxxxx- cial institution eligible to enroll loans under the Program. (Pub. L. 103–325, title II, § 254, Sept. 23, 1994, 108 Stat. 2207.)
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Participating financial institutions. 1. The Borrower shall carry out Part B of the Project through PFIs selected for participation in the Project pursuant to paragraph 2 hereof. 2. The Borrower shall, in consultation with the Bank, select financial institutions for participation under Part B of the Project in accordance with the eligibility criteria, agreed with the Bank, which includes: (a) a valid banking license held by the financial institution; (b) a Certificate of Compliance issued by the National Bank of Kazakhstan that the financial institution is in compliance with all banking laws and regulations and fully satisfies the prudential regulations, including capital adequacy, limits of exposure to one borrower and to insiders, and on open foreign exchange position; (c) accounts and financial statements prepared in accordance with International Accounting Standards (IAS); (d) an acceptable audit report of the financial institution covering the most recent one year of operations, including a portfolio review, prepared by an internationally recognized audit firm in accordance with International Standards on Auditing (ISA); (e) an adequate network of branches of the financial institution to serve rural clients; (f) an acceptable governing body of the financial institution which prescribes the overall policy and performs appropriate oversight of the financial institution’s operations; (g) expressed interest and experience of the financial institution in lending to agricultural clients; (h) internal administrative, operational and financial systems and procedures of the financial institution acceptable to the Bank; and (i) expressed willingness of the financial institution to participate in a program of capacity building. (a) For the purposes of Part B of the Project, the Borrower shall onlend the amount of the Loan allocated to Category (3) in the Table in Paragraph 1 of Schedule 1 to this Agreement to the PFIs under subsidiary loan agreements to be entered into between the Borrower and each of the PFIs under terms and conditions which shall have been approved by the Bank. Except as the Bank shall otherwise agree, such terms and conditions shall include the following: (i) The amount of subsidiary loan to each PFI shall be made available in Dollars or Tenge; (ii) the principal amount of the Subsidiary Loan shall be repaid by the concerned PFI in Dollars or Dollars equivalent in Tenge to the Borrower in equal semi-annual installments over fifteen (15) years, including a grace period of three (3...
Sample 1

Related to Participating financial institutions

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Affected Financial Institution No Loan Party is an Affected Financial Institution.

  • Financial Institutions Notwithstanding this Article 3, any party may provide Confidential Information to any financial institution in connection with borrowings from such financial institution by such party or any of its Controlled Related Parties, so long as prior to any such disclosure such financial institution executes a confidentiality agreement that provides protection substantially equivalent to the protection provided the parties in this Article 3.

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Financial Institution The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.

  • Location of Financial Institution Regardless of any provision in any other agreement, for purposes of the UCC, New York will be the location of the bank for purposes of Sections 9-301, 9-304 and 9-305 of the UCC and the securities intermediary for purposes of Sections 9-301 and 9-305 and Section 8-110 of the UCC.

  • Reliance by Financial Institution The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be genuine and given by the proper party.

  • Financial Institutions Covenants (a) Statements, Confirmations and Other Correspondence. The Financial Institution will promptly deliver copies of statements, confirmations and correspondence about the Collateral Accounts and the cash or other financial assets credited to a Collateral Account to the Grantors and the Secured Party.

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